Fragrant Flourish: Scented Candles Market is Set to Expand at a CAGR of 2.8% by 2032 | Future Market Insights, Inc.

The Global Scented Candles Market  is expected to register a CAGR of 4.1% by garnering a market value of US$ 5.4 Billion by the end of 2032.

Gamers now provide small limited-edition candles in addition to standard-sized candles, which are well-liked as gift choices. Some of the fragrances being promoted include berries, roses, pine trees, jasmine, musk, fig trees, wood fire, and mimosa. The North America Scented Candles Market is projected to grow at a CAGR of 2.8% over the forecast period.

Manufacturers are introducing limited edition scents and seasonal scents to boost sales. For instance, DIPTYQUE is selling a set of 5 scented candles that are part of a limited edition. Additionally, gift-giving options are being marketed for these candles.

Personalization is also taking centre stage in the market due to changing consumer preferences. In response, businesses offer customers the option to personalise and customise their candles by letting them select the scents and include messages and notes. Such changes are predicted to open up opportunities for market expansion.

Besides scents, companies are focusing on enhancing their packaging designs as the visual appeal of the product plays a major role in shaping consumer preferences. Leather bag inspired box, print box packaging, and eco-friendly sustainable packaging are some packaging options offered by the manufacturers.

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"Scented candles are being promoted as décor accents for homes as they provide ambient light and a luxurious visuals. Many of the scented candles are also being promoted as anxiety and stress reducer fragrances. Such developments are expected to augment the growth of the market through 2032," says an FMI analyst.

Key Takeaways:

In terms of product type, container-based candles are expected to dominate the market.
Based on the shape, sales of round scented candles will grow at a 3.4% CAGR.
Demand for multi wick candles will increase at a 5.2% CAGR through 2032.
Sales through online channels are projected to grow at a healthy 6.9% CAGR over the assessment period.
The U.S. will continue dominating the North America scented candles market, driven by high demand for limited edition candles.
Sales in the U.K. scented candles market will increase at a 3% CAGR over the forecast period.
India will emerge as a lucrative market, with sales projected to increase at a 2.9% CAGR over the assessment period.

Competition Landscape

Leading players operating in the global scented candles market are investing in promotional strategies, advertisements, and new product launches with limited edition scents to gain a competitive edge in the market.

Key players operating in the market profiled by FMI include Newell Brands, MVP Group International, Estee Lauder Companies, NEST New York, Thymes, LLC.,L Brands, Portmeiron Group Plc., The Yankee Candle Co. Inc., The White Barn Candle Co., Village Candles, Bridgewater Candles., etc.

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Scented Candles Market By Category

Product Type:

Container Based Scented Candles
Pillar Scented Candles
Others

Shape:

Round
Flower
Heart
Oval
Others

No. of Wicks:

Single Wick
Multi Wicks

Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa (MEA)

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.